Socket Mobile strengthens balance sheet with common stock private placement of US$500,000

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Socket Mobile, Inc., provider of mobile productivity solutions, has entered into a definitive agreement with AboCom Systems Inc., a major product manufacturer and supplier in Taiwan, to convert $500,000 of the company's trade debt into common stock. The company will issue a total of 282,485 unregistered common shares at $1.77 per share. The company will file a registration statement with the Securities Exchange Commission registering the resale of the shares of common stock issued in the transaction.

"We are pleased that AboCom Systems has become an investor in the company, reflecting the long standing relationship between our two organizations in building quality products for the mobile marketplace. This financing helps strengthen our working capital as we plan for future growth," said Kevin Mills, president and CEO of Socket Mobile.